E-scooter startup Bolt closes series A funding to redesign city mobility with safe and sustainable transportation solutions
Bolt Mobility, a Miami, Florida-based tech startup with focus on revolutionizing transportation by providing simple, safe and sustainable solutions, has closed a Series A funding round bringing total investment to $30 million at a $100 million valuation. The funding round was led by Rokk3r Fuel ExO, a Miami-based global venture capital firm geared toward early-stage companies propelled by exponential technologies.
Bolt was created in 2018 by Kamyar Kaviani and Sarah Haynes to fill the gaps in micromobility. The startup has conducted extensive research within urban areas and is prepared to revolutionize transportation. Bolt Mobility provides personal e-scooters at strategic locations in urban areas that allow for point-to-point travel. Bolt Mobility’s technology is sought after by forward-looking cities seeking to alleviate traffic congestion, helping municipalities transition infrastructure to a greener, more-efficient model.
“We believe that we can provide a scooter that will aid in alleviating transit issues including traffic congestion with little to no impact on pedestrian comfort,” the company said.
Bolt Mobility also announces Ed Welburn, former Vice President of General Motors Global Design, has joined the company as an Advisor. During Welburn’s 44-year career at GM, he was considered one of the premiere minds in automotive design.
“In securing Series A funding and bringing Ed Welburn on board as an advisor, Bolt Mobility is getting the resources and expertise it needs to both scale and advance our mission of bringing simple, efficient transport solutions to populations around the world,” said Bolt Mobility CEO Julia Steyn. “I’m very excited for these developments and the momentum they create for the immediate and long-term future.”
“I’m thrilled to join Bolt Mobility’s extraordinary team and contribute to the innovative work this company is doing to make urban areas more sustainable,” said Welburn. “I have no doubt that we can achieve truly impressive things together.”
Bolt Mobility’s mission is to work with cities on a local level to solve traffic and parking congestion and reduce their carbon footprint with safe, sustainable, and equitable transport options. Bolt’s strategy is focused on design of technology solutions for the micromobility ecosystem. Bolt’s leadership team has experience developing sustainable transportation solutions and emerging technologies. A commitment to design ensures rider safety, convenience, and affordability. Bolt’s approach to working with cities is focused on partnership, inclusivity, and equity. Bolt currently has permits to operate its e-scooters in multiple cities across the US & internationally.